The Korea Exchange will begin after-hours stock trading on Sept. 14, opening a new session from 16:00 to 20:00 on each trading day. The venue will cover most listed shares on the KOSPI and KOSDAQ markets, with as many as 2,651 stocks available for trading.
The new session will also introduce a market maker system designed to provide quotes and liquidity support for less liquid shares. According to BlockBeats, this is the first time market makers will be used in South Korea’s after-hours stock market.
The exchange is also adding investor protection rules. Market orders will not be allowed in after-hours trading. Only limit orders, best limit orders and best marketable limit orders will be accepted. Stocks under investment warning, investment risk or management designations, suspended shares, and stocks that were not traded on the main market that day will be excluded.
At present, South Korea’s alternative trading platform NXT handles at most about 800 tradable stocks. Once the Korea Exchange rolls out the new after-hours session, the range of stocks available to investors is set to expand sharply.
South Korea’s Korea Exchange will launch after-hours stock trading on Sept. 14, with trading available from 16:00 to 20:00 on each trading day, according to BlockBeats. The new session will cover most listed shares on the KOSPI and KOSDAQ markets, with as many as 2,651 stocks eligible for trading.
The after-hours market will introduce a market maker system to provide quotes and liquidity support for less liquid stocks. BlockBeats said this will be the first use of market makers in South Korea’s after-hours stock market.
To tighten investor protection, market orders will be banned in the after-hours session. The exchange will allow only limit orders, best limit orders and best marketable limit orders. Stocks under investment warning, investment risk or management designations, suspended stocks, and stocks that did not trade on the main market on the same day will be excluded from after-hours trading.
South Korea’s alternative trading platform NXT currently offers at most about 800 tradable stocks. After the Korea Exchange launches the new after-hours market, the range of stocks available to investors will expand significantly.
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